Essays on asset-backed securitization

Riachi, Ilham
(2013)

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Authors
  • Riachi, IlhamUCLouvain
    author
Supervisors
Schwienbacher, Armin
 ;
Petitjean, Mikael
Abstract
(en) Based on a hand collected sample of asset-backed securitizations (ABS) issued by US industrial firms from 1992 to 2006, this dissertation tests a number of issues linked to the economic motivations of ABS financing. The first essay analyzes the impact of ABS usage on corporate investment and performance, providing empirical evidence on the role of ABS in mitigating underinvestment problems within industrial firms. The second essay raises the question how top managers make use of ABS financing in order to achieve their performance targets, and them maximize their own compensation. The third essay focuses on overcollateralization in ABS transactions by investigating its determinants and impact on working capital management policy.
Affiliations
  • Institution iconUCLouvainECGE - Sciences économiques et de gestion

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Riachi, I. (2013). Essays on asset-backed securitization. https://hdl.handle.net/2078.5/163682